20 Oct

Demand for property to rent in the UK increases in Q3 2010

Demand for property to rent in the UK increases in Q3 2010

An increasing number of people are seeking property to rent in the UK, according to a new survey of landlords.

Paragon Group has posted its latest Private Rented Sector Trends report, which shows that 36 per cent of landlords saw rising tenant demand in the third quarter of 2010, compared to six per cent noting a decline.

It means the proportion of landlords reporting increased demand from tenants has risen each quarter since Q2 2008, with 42 per cent of those polled predicting the trend will continue into next year.

According to Paragon Group, a lack of mortgage finance availability combined with the beginning of the new academic year is helping to drive the improved levels of rental market activity.

Nigel Terrington, Paragon Group's chief executive, said: "Tenant demand continues to strengthen, yields are healthy and stable and confidence is high. The housing market is presenting some strong buying opportunities and landlords are well placed to take advantage."

Earlier this week, Knight Frank published its London Lettings Index for the third quarter, showing that luxury property to rent in London has increased in rental value for 15 months in a row.ADNFCR-1222-ID-800126913-ADNFCR

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